Corebridge Financial Inc. lessened its stake in Public Service Enterprise Group Incorporated (NYSE:PEG - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 117,772 shares of the utilities provider's stock after selling 4,102 shares during the period. Corebridge Financial Inc.'s holdings in Public Service Enterprise Group were worth $9,693,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of PEG. Nebula Research & Development LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $444,000. Boothbay Fund Management LLC bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $304,000. Optiver Holding B.V. bought a new stake in shares of Public Service Enterprise Group in the 4th quarter valued at about $50,000. Northern Trust Corp lifted its stake in shares of Public Service Enterprise Group by 6.1% in the 4th quarter. Northern Trust Corp now owns 5,807,124 shares of the utilities provider's stock valued at $490,644,000 after acquiring an additional 335,135 shares during the last quarter. Finally, Lido Advisors LLC lifted its stake in shares of Public Service Enterprise Group by 4.0% in the 4th quarter. Lido Advisors LLC now owns 9,791 shares of the utilities provider's stock valued at $827,000 after acquiring an additional 378 shares during the last quarter. Institutional investors own 73.34% of the company's stock.
Public Service Enterprise Group Stock Performance
Shares of PEG stock traded down $0.23 on Monday, reaching $82.36. The stock had a trading volume of 2,254,583 shares, compared to its average volume of 2,773,879. The stock has a market cap of $41.10 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 2.86 and a beta of 0.50. Public Service Enterprise Group Incorporated has a 1 year low of $74.67 and a 1 year high of $95.22. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.76 and a current ratio of 1.00. The company has a 50 day simple moving average of $84.71 and a 200 day simple moving average of $82.26.
Public Service Enterprise Group (NYSE:PEG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The utilities provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.07. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.49 billion. Public Service Enterprise Group had a return on equity of 12.08% and a net margin of 17.78%.The company's revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. Public Service Enterprise Group has set its FY 2025 guidance at 3.940-4.060 EPS. Equities research analysts expect that Public Service Enterprise Group Incorporated will post 3.67 EPS for the current year.
Public Service Enterprise Group Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 9th will be given a dividend of $0.63 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.52 annualized dividend and a yield of 3.1%. Public Service Enterprise Group's payout ratio is 63.64%.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. UBS Group upped their price target on Public Service Enterprise Group from $97.00 to $103.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Morgan Stanley lowered their price target on Public Service Enterprise Group from $101.00 to $100.00 and set an "overweight" rating for the company in a research report on Wednesday, June 18th. Wall Street Zen lowered Public Service Enterprise Group from a "hold" rating to a "sell" rating in a research report on Sunday, July 20th. Barclays lowered their price target on Public Service Enterprise Group from $83.00 to $82.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Finally, BMO Capital Markets upped their price target on Public Service Enterprise Group from $84.00 to $89.00 and gave the company a "market perform" rating in a research report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $90.95.
Check Out Our Latest Report on PEG
Insider Buying and Selling
In other Public Service Enterprise Group news, CEO Ralph A. Larossa sold 1,387 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $83.12, for a total transaction of $115,287.44. Following the sale, the chief executive officer directly owned 218,328 shares of the company's stock, valued at $18,147,423.36. This trade represents a 0.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.
About Public Service Enterprise Group
(
Free Report)
Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.
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